Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1887-10-13
THE MEN OF MONEY.
NATIONAL BANKERS CONVENTION IN SEs-
SION AT PITTSBURG.
Leading Financial Institutions Rsprsssntsd-A Largs
COnvsnhOn-Ysstsrday Mornings Pro-
Ossdings-PltSbrgs Resources
and Advantages.

PTrTsBURG, October 12.-The annuG
meeting of the American Bankers AssOci
alton commenced at the Grand Open
House this morning. The building, whiel
has been but recently opened, presented :
beautiful appear lnee, the pOtted plant:
which were displayed in the handsome en-
trance and on the stage adding to and moi
detractiDg from the decorations of tht
auditorium. When the meeting was called
to order at half-past 10 o'clock some two
hundred representatives of the leading
financial institutions of the country were
present, while the seats set apart for spec
! tators were filled, quite large number O
the audience being ladies. -
After the Chairman, Logan C. Murray,
of New York, had called the Association
together, Rt Rev. Courtlandt Whitehead,
Episcopal Bishop of the Diocese of Pitts
burg, invoked divine blessing ON the pro-
ceedlngs of the Association. After which
Hon. Daniel Agnew, eX-Chief Justice OF
the Supreme Court Of the United States
made the address of welcome.
In opening he referred to the features OF
historic interest, which cluster around
Pittsburg and give some personal remin'
encesces, when Pittsburg embraced an
area of a few blocks and Allegheny sthe
thriving city of over one hundred thousand
/ - I, 10 pf q
dozen houses. He then brauched out
on the wonderful strides which Pittsburg
and vicinity have made in the way ofnan-
ufactures, in the development Of natural
resources aud TO the immense capital which
has been invested in the territory contri-
buting 10 Pittsburg In the item of coal,
over 10, 900, 600 of bushels have been mined
during the present year. But there is re-
serve computed al sixteen billion tons
The natural gas supply is drawn from an
area of 2lO. 900 acres, from which five hun
dred million cubic feet are drawn daily.
The total capital invested in the prOduc-
ton and supply Of natural gas is estimated
at
TWENTY-FIVE MILLIONS
of dollars and the net profit is ten per cent
Over three million of dollars is invested IN
the manufacture of plate glass alone.
Reference was also made to the commerce
OF this city, the tonnage Of which exceeds
the largest seaport cities. He also re-
ferred 10 the fact that the imports OF
Pittsburg exceeded One-sixth of the entire
imports Of the country. In concluding,
he claimed that Pittsburg and Allegheny
are the largest freight producing districts
in the United States, two mills alone fur
nishing larger tonnage than the entire
cotton crop of the United States. The
statements of the speaker were fortified
by figures, giving dstails of the different
industries
At the conclusion of Judge Agnew's re-
marks, Logan c. Murray, president of the
association, delivered his annual address.
This was followed by the reading of the
reports of the officers, which reports showed
gratifying increase in membership, and
especially in the last year, when the total
membership was l,402, while this year it
is 1862. The increase would have been
larger but for certain monetary questions,
which caused some TO withhold their intlu-
ence. A reaction had set in, however, and
it was the general opinion that the outlook
was exceedingly bright The influence of
the association was steadily increasing.
During the year 81 600 had been spent in
prosecuting number of the
MOST DANGEROUS FORGERS
and criminals in the country. The treas
urer's report WIGS as follows: Balance on
hand last year, 81, ,59l. SO; receipts from
subscriptions, $l3, 126. 80; total receipts to
October /, 1887, S14,7IS.6S; disburse,
ments, $l3, 39s 80; balance, 81 32015.
A committee Of five was then appointed
to suggest nominations for officers for the
ensuing year. Pending their report John
J. Knox, Comptroller of the United
Stated Treasury delivered an address on
the surplus of the public debt, and Chas.
i. Alexander, of New York, read an in
terestiDg paper on commercial credits and
trust receipts
Hon. Daniel Agnew then read an able
paper on the legal future of the National
Banking system, after which the conyen'
tion adjourned.
In the aiternoan the delegates were slow
in arriving.
Hon. Beriah wilkins Of Ohio, delivered
an address on "HOw to avoid the accumu.
latiOn of surplus in the future He said
the question could no longer be put aside
and that prompt, thorough and heroic
measures must be adopted by the 5Oth Con
gress which assemblies in December next.
He concluded as follows: Repeal the tax
on tobacco, reduce duties on sugar, rice,
salt, lumber, common cloth, window glass
and certain kinds of iron products. A
large portion of the tax on the circulation
of national banks could well he remitted
also"
Resolutions were adopted requesting the
Executive Committee TO appoint commit
tee on behalf OF the association to repre-.
sent to represent to our State Department
the great evil now existing and urge the
early amendmentof our eXtradition treaties
with Great Britain.
Letters of regret were read from Hon
John Sherman, Comptroller ". L. Tren'
holm, Gen. VIM. T. Sherman and Others,
Adjourned to meet again at 10 O'Clock to-
morrow morning.
MUNICIPAL ELECTIOSs.